Project ID: 35885

CAMCE provides $40 million supplier's credit for agricultural machinery

Commitment amount

$ 91106084.87546545

Adjusted commitment amount

$ 91106084.88

Constant 2021 USD

Summary

Funding agency [Type]

China CAMC Engineering Co., Ltd. (CAMCE) [State-owned Company]

Recipient

Venezuela

Sector

Agriculture, forestry, fishing (Code: 310)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2004-01-01

Actual start

2004-04-27

Actual complete

2004-04-27

Description

On December 28, 2004, CAMC Engineering Co. LTD (CAMCE) provided a $40 million supplier's credit to the Government of Venezuela for the acquisition of agricultural machinery. On April 27, 2004, CAMCE delivered 530 tractors and 340 sprinkler irrigation units to Venezuela.

Number of official sources

6

Number of total sources

8

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Venezuela [Government Agency]

Implementing agencies [Type]

Fondo de Desarrollo Agropecuario, Pesquero, Forestal y Afines (FONDAFA) [Government Agency]

China CAMC Engineering Co., Ltd. (CAMCE) [State-owned Company]

Pétroleos de Venezuela S.A. (PDVSA) [State-owned Company]

Loan Details

Interest rate

6.0%

Bilateral loan

Investment project loan

Supplier's credit/Export seller's credit